I'm very early in the process, I would even consider it simply the learning process.

I assume just seeing properties on Funished Finder doesn’t mean they are being filled up constantly. 

We typically fill leases for our SF in a week or two, even in the winter. 

Spoke to them about out, my thought process, and I could be completely wrong, is that surrendering for cash = tax penalty.   

I (re)started a little later than you so I had to speed up the process - I did about 2 houses a year.

Hey @Mario J PerezAdvantages - Processing time, underwriting conditions, paperwork requirements, not impacting debt-to-income and/or personal credit, can own many and close in entities reducing personal liability (to name a few).Disadvantages - Rates tend to be a tick higher (less and less these days) and fees will be a few thousand more per deal, can be very regional, higher appraisal costs usually (based on the need for a 1007 rent market analysis on every one), can have weird underwriting conditions (lender specific)30,000 foot view at it, but the entity/personal credit side of things make DSCR loans really helpful as you start to scale, and especially if you are doing any personal borrowing for personal homes, cars, etc.Hope that helps!

If I get the place rented at the amount discussed with the property manager, I'd be basically breaking even.Obviously, the first order of business is to get the first rental property filled, but I'm wondering how I should go about acquiring the next property.

I'm currently in the process of doing a BRRRR on my 2nd rental property.

I was about to start the process to get a retroactive permit but realized the additional cost of a new exterior stairwell (metal) and architecture fees is almost 30kIm starting to weigh the options of either full tear down with a new 4 unit construction or separate building in the front of property (current is set back thus the extra costs to permit)  or adding a 2 story 2 unit addition connecting to the old propertysorry this post has become 2 ideas i need advice onif it deconvert can i use it as an inlaw suite with 2nd floor unit or a duplex up. 

The right agent will be able to help you navigate the purchase process and analyze deals.